Thursday, February 25, 2021

Eight SM Companies Receive Golden Arrow Awards On Corporate Governance

Eight SM Companies were given Golden Arrow Awards for their excellant practice of corporate governance.

JG Summit Invests In Fintech Focused On Emerging Markets

JG Summit Holdings Inc. invests in Tyme, one of the world’s fastest-growing digital banks based in South Africa.

Reinvent And Go This 2021 With Globe Virtual Hangouts

What can everyone expect from Globe Virtual Hangouts this 2021?

Doblehin Ang Diskarte With Globe At Home’s Fastest Home Prepaid WiFi Ever!

Swak sa budget na WiFi ba para sa buong pamilya ang hanap mo? Narito na ang Advanced Home Prepaid WiFi ng Globe At Home!

PSE, PDS Urge Congress To Pass CREATE Bill

PSE, PDS Urge Congress To Pass CREATE Bill

Spotlight

Eight SM Companies Receive Golden Arrow Awards On Corporate Governance

Eight SM Companies were given Golden Arrow Awards for their excellant practice of corporate governance.

JG Summit Invests In Fintech Focused On Emerging Markets

JG Summit Holdings Inc. invests in Tyme, one of the world’s fastest-growing digital banks based in South Africa.

Reinvent And Go This 2021 With Globe Virtual Hangouts

What can everyone expect from Globe Virtual Hangouts this 2021?

Doblehin Ang Diskarte With Globe At Home’s Fastest Home Prepaid WiFi Ever!

Swak sa budget na WiFi ba para sa buong pamilya ang hanap mo? Narito na ang Advanced Home Prepaid WiFi ng Globe At Home!

The country’s equities and fixed-income exchanges have called on Congress to swiftly pass the proposed Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) to make the Philippines an attractive investment hub in the region and the domestic capital market a viable venue for raising funds.

In a joint statement sent to Finance Secretary Carlos Dominguez III, the Philippine Stock Exchange, Inc. (PSE) and the Philippine Dealing System Holdings Corp. (PDS) expressed their strong support for CREATE, which they described as “a landmark bill in a series of reform measures undertaken by this administration.”

“We respectfully urge both houses of Congress to prioritize the immediate passage of the CREATE bill so that the country can fully reap the benefits of this reform bill without delay,” they said in their statement.

The statement of support was signed by PSE president Jose Pardo; PDS chairman Cezar Consing; and Ramon Monzon, the president-chief executive officer of both the PSE and PDS.

Both the PSE and PDS thanked the Department of Finance (DOF) under Dominguez’s leadership “for tirelessly working to ensure the timely approval” of CREATE, which represents the second package of the Duterte administration’s Comprehensive Tax Reform Program (CTRP).

The immediate lowering of the corporate income (CIT) tax to 25 percent for large businesses and foreign corporations, and to 20 percent for micro, small and medium enterprises (MSMEs) with a net taxable income of PHP5 million and below and total assets of not more than PHP100 million (excluding land), will leave more funds in the hands of publicly listed companies either for business expansion or distribution to stockholders, the PSE and PDS said.

“The investment of said tax savings in other business undertakings or investment vehicles can set off a chain of positive economic consequences such as employment generation, higher spending, and increased domestic business activity as a result of the multiplier effect,” they said.

Immediately reducing the CIT and enhancing the flexibility of the country’s fiscal incentives system to bring in investments that will generate the most benefits for the Filipino people will also make the Philippines competitive among its peers in the Association of Southeast Asian Nations (Asean) region. The Philippines’ current CIT rate of 30 percent is the highest in Asean.

Aside from the CREATE bill, the PSE and PDS also expressed their support for the expansion of the list of transactions qualifying as tax-free exchanges in Section 40(C)(2) of the National Internal Revenue Code (NIRC).

They also backed the removal of the requirement to obtain prior confirmation or tax ruling from the Bureau of Internal Revenue (BIR) for availing of this benefit in Section 40(C)(2) of the Tax Code.

They said such reforms “will streamline the process of reorganization typically conducted by companies preparatory to going public.”

“This is a very welcome development and a move that has long been clamored for by the market,” the PDS and PSE said.

Along with CREATE and the removal of the initial public offering (IPO) tax in Republic Act 11494 or the Bayanihan to Recover as One Act (Bayanihan 2), these reforms on tax-free exchanges “will spur business creation in the Philippines, incentivize capital-raising activities in the Philippine capital market, and overall, accelerate the country’s recovery from economic losses brought about by the Covid-19 (coronavirus disease 2019) pandemic,” they pointed out. (PNA)

Family Day Sans Age Limit In Intramuros Proposed

The Department of Tourism (DOT) recommends a one-day exemption for children below 15 years old in Intramuros after seeing several visitors gathered during the reopening.

Epson Ranks No.1 In Textile Dye Sublimation Printer Category In ASEAN* Since 2015

Just WOW! Epson maintains its leadership in the dye sublimation printer category in ASEAN* for 4 years.

Converge Rolls Out Mobile Business Centers For Quick Customer Service

Converge deploys more mobile business centers in Valenzuela City to quickly address the needs of its fast-growing subscriber base in the city and parts of Luzon.

Bugoy Drops Futuristic “Tied” Music Video

Bugoy Drilon debuts the space-age music video (MV) for his collaboration single with music producer Moophs entitled "Tied."

SMC Spends P1B To Vaccinate All 70,000 In Its Workforce For Free

Free Covid-19 vaccination for all 70,000 SMC workers.

P61-B Projects Eyed For ‘Balik Probinsya’ In Eastern Visayas

Eastern Visayas has its “Balik Probinsya, Bagong Pag-asa” (BP2) program for applicants residing in Metro Manila who has the desire to return to their respective provinces and begin a new life.

CitiGlobal’s TCRS Cypress Tower Development, Now In Full Swing

CitiGlobal’s TCRS Cypress Tower has recently started the construction promises to provide deluxe amenities at an affordable price.

Whale Shark Rescued In Pangasinan Town

Aba! Buti na lang nasagip ang isang butanding matapos itong mapulupot sa lambat na nakasalansan sa karagatan ng Pangasinan.

Ilocos Norte SP On Lockdown, Over 100 Employees Undergo Swab Test

Ilocos Norte was placed on lockdown effective Monday as more than 100 employees and officials underwent reverse transcription-polymerase chain reaction (RT-PCR) test.

Farmers Encouraged To Ensure Rice Crops Get Sufficient Nutrients

“Rice crops yield more if they get the right nutrients in their right amount in every stage of their development,” said PhilRice specialist Sandro D. Cañete.

Spotlight

Eight SM Companies Receive Golden Arrow Awards On Corporate Governance

Eight SM Companies were given Golden Arrow Awards for their excellant practice of corporate governance.

JG Summit Invests In Fintech Focused On Emerging Markets

JG Summit Holdings Inc. invests in Tyme, one of the world’s fastest-growing digital banks based in South Africa.

Reinvent And Go This 2021 With Globe Virtual Hangouts

What can everyone expect from Globe Virtual Hangouts this 2021?

Doblehin Ang Diskarte With Globe At Home’s Fastest Home Prepaid WiFi Ever!

Swak sa budget na WiFi ba para sa buong pamilya ang hanap mo? Narito na ang Advanced Home Prepaid WiFi ng Globe At Home!

Lifestyle

Jollibee USA Serves Next-Level Chickenjoy In New Musical Advertisement

Jollibee USA's new Chickenjoy commercial leaves viewers the Last Song Syndrome ‘LSS’ effect. Mapapakanta ka na lang talaga habang nagki-crave.

Sinovac Covid-19 Vaccine Is Safe: FDA

FDA Director General Eric Domingo says "its safety profile is good" referring to Sinovac Biotech's Covid-19 vaccine with an efficacy rate of 65.3 to 91.2%.

Pwede More Or Sana All: Order A Variety Of Max’s Group Favorites

You can now order a variety of items from different brands in just one transaction with Max's Group's latest innovation!

Online Biz Promotes Local, Eco-Friendly Products

'Alibot PH' an online store that transforms scraps into attractive and useful crafts is managed by three Pinay creatives.

Entertainment

Regine Promises New Repertoire And Surprise Guest In “Freedom” Concert

Alamin ano itong panibagong pasabog na ihahatid ni Regine Velasquez-Alcasid sa kaniyang mga fans sa nalalapit nitong concert.

“Tunay Na Buhay” Turns 10, Features Life Story Of Vic Sotto

In celebration of "Tunay na Buhay" 10th anniversary features personal stories of Vic Sotto including his childhood memories, how TVJ group started, and his principles as a father.

Explosive New Cinematic Adventure “Mortal Kombat” Drops First Trailer

Have you seen the newest trailer of 'Mortal Kombat'?

More Stories

SM Foundation Bags Four Anvil Awards

Congratulations! SM Foundation (SMFI) bags four awards in the recent 56th Anvil Awards.

Ilocos Norte To Hire Seniors, OSYs As Tourism Aides

The Ilocos Norte Tourism Office (INTO) will be going to hire some tourism aides, including senior citizens and out-of-school youths (OSY).

SBMA Ready For Covid-19 Vax Rollout

Subic Bay Metropolitan Authority (SBMA) is ready for the eventual release and distribution of the Covid-19 vaccines in the Freeport.

Ilocos Norte Beefs Up Livestock Supply

WOW! May pa-libreng biik sa Ilocos.

Regine Promises New Repertoire And Surprise Guest In “Freedom” Concert

Alamin ano itong panibagong pasabog na ihahatid ni Regine Velasquez-Alcasid sa kaniyang mga fans sa nalalapit nitong concert.

Travel

Palawan Eyes Reopening Of Calauit Safari Park In March

Palawan government eyes to open the Calauit Safari Park in Palawan by March.

DENR-Davao Intensifies Mt. Apo Trekking And Camping Policy

DENR-Davao pushes striker trekker rules in Mt. Apo but if remains unfollowed the government might decide to temporarily close the site for rehabilitation.

DOT Backs Vaccine Passport For Tourism Recovery

The Department of Tourism (DOT) supports the proposed vaccine passport for arriving visitors, a concept it believes would help further build travel confidence.

Hopes Up On Ilocos Norte Eco-Adventure Park Revival

An eco-adventure park in Ilocos Norte could soon be in development!

Motoring

MMDA To Open Zipper Lane For EDSA People Power Anniversary

MMDA sets to open a zipper lane along White Plains Avenue in Quezon City on Thursday (Feb.25) for the celebration of the 35th EDSA People Power Revolution.

DPWH Proposal To Upgrade Currimao Seaport Access Road OK’d

The improvement of the access road leading to the International Seaport of Currimao has already obtained the approval of the national government to improve transport services in the area.

Subic Bay Freeport Expressway Inaugurated

Bukas na ang 8.2km Subic Freeport Expressway!